Standard Lithium Secures Additional Landholdings With Permitted Brine Producer at Bristol Dry Lake, Mojave, California
(Thomson Reuters ONE) -
VANCOUVER, British Columbia, Sept. 12, 2017 (GLOBE NEWSWIRE) -- Standard Lithium
Ltd. ("Standard Lithium" or the "Company") (TSXV:SLL) (FRA:S5L) (OTCQX:STLHF) is
pleased to announce that its wholly owned subsidiary, California Lithium Ltd.,
has signed an amendment agreement with National Chloride Company of America
("National Chloride") that significantly expands the Company's land position in
the Bristol Dry Lake Lithium Project by approximately 6,000 acres, to a new
total of approximately 25,000 acres.
This new amended agreement continues all the economic terms of the previous
lease agreement with National Chloride, with the additional requirement that the
Company will be responsible for ongoing carrying costs associated with the
Additional Claims which may be owed to the Bureau of Land Management or any
applicable state or county authorities in the State of California. Under the
terms of the original Lease Agreement the Company also has an option to lease
access to approximately 3,000 acres of private land held by National Chloride
and its affiliates.
The National Chloride claims lie adjacent and contiguous to the roughly 4,000
acres of placer mineral claims comprising the Company's existing Mojave Lithium
Project. National Chloride and others have mined the near-surface brines to
produce concentrated chloride products for various industrial applications for
close to 100 years and, as a result, the area has excellent mining
infrastructure. There is electric power and water on the property. A major
paved road crosses the western edge of the property, and there is a rail siding
within 5 km. The property is situated approximately 200 km from Las Vegas, and
330 km from the port of Los Angeles.
Standard Lithium CEO, Robert Mintak stated "Standard Lithium is delighted to
continue and expand our business relationships with our trusted brine processing
partner, National Chloride. The expansion of our optioned landholding in the
Bristol Dry Lake Lithium Brine Project is in areas of the salt lake where we
have recently completed geophysical exploration, and we understand that the
additional ground is underlain by an extremely deep basin that contains
concentrated, highly conductive brine. The timing of this expansion is
important, as we are currently mobilising drilling crews to the project site,
and will be starting quantitative resource assessment work very shortly."
For further information regarding the Bristol Dry Lake Lithium Project, readers
are encouraged to review the Company's news release of May 4(th), 2017. For
further information regarding the Mojave Lithium Project please see the
Company's Technical Report compiled in accordance with National Instrument
43-101 dated September 15, 2016 and available under the Company's profile on
SEDAR (www.sedar.com).
About Standard Lithium
Standard's value creation strategy encompasses acquiring a diverse and highly
prospective portfolio of large-scale domestic brine resources, led by an
innovative and results-oriented management team with a strong focus on technical
skills. The Company is currently focused on the immediate exploration and
development of the Bristol Dry Lake Lithium Project located in the Mojave region
of San Bernardino County, California; the location has significant
infrastructure in-place, with easy road and rail access, abundant electricity
and water sources, and is already permitted for extensive brine extraction and
processing activities. The Company is also commencing resource evaluation on
its 33,000 acres of lithium brine leases located in the Smackover Formation.
Standard Lithium is listed on the TSX Venture under the trading symbol "SLL";
quoted on the OTCQX under the symbol "STLHF"; and on the Frankfurt Stock
Exchange under the symbol "S5L". Please visit the Company's website
at www.standardlithium.com.
For further information, contact Anthony Alvaro at 604.240.4793.
On behalf of the Board,
Standard Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities laws. When used in this news release, the
words "anticipate", "believe", "estimate", "expect", "target, "plan",
"forecast", "may", "schedule" and other similar words or expressions identify
forward-looking statements or information. These forward-looking statements or
information may relate to future prices of commodities, accuracy of mineral or
resource exploration activity, reserves or resources, regulatory or government
requirements or approvals, the reliability of third party information, continued
access to mineral properties or infrastructure, fluctuations in the market for
lithium and its derivatives, changes in exploration costs and government
regulation in Canada and the United States, and other factors or information.
Such statements represent the Company's current views with respect to future
events and are necessarily based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political and social risks,
contingencies and uncertainties. Many factors, both known and unknown, could
cause results, performance or achievements to be materially different from the
results, performance or achievements that are or may be expressed or implied by
such forward-looking statements. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements or information
to reflect changes in assumptions or changes in circumstances or any other
events affections such statements and information other than as required by
applicable laws, rules and regulations.
Neither the Company, nor National Chloride makes any representations as to the
value of lease rights associated with National Chloride's Bristol Lake mineral
claims (the "Property"), the availability of any particular resource or minerals
on the Property, or the merits of any proposed exploration work to be completed
on the Property. National Chloride expressly disclaims any responsibility for
the adequacy or accuracy of disclosure made by the Company in respect of the
Property. Readers are cautioned that a "Qualified Person"(as that term is
defined by National Instrument 43-101 - Standards of Disclosure for Mineral
Projects) has not done sufficient work to specify any mineral resource or
reserve on the Property.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Standard Lithium Ltd. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 12.09.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 559521
Anzahl Zeichen: 7870
contact information:
Town:
Vancouver
Kategorie:
Business News
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"Standard Lithium Secures Additional Landholdings With Permitted Brine Producer at Bristol Dry Lake, Mojave, California"
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